There is a plan to transform the Belarusian Currency and Stock Exchange (BCSE) into a multifunctional financial institution, NBB First Vice Chairman Taras Nadolny said.
The National Bank of Belarus plans to promote further development of the stock market and recommends Belarusian banks to be more active in entering the statutory capital of state-owned companies. Besides, they plan to stimulate further development of the corporate securities market as an effective instrument for long-term financing.
They also plan to create a single information center for maintaining a databank of insurance contracts, insurance activities and payments, Nadolny informed.
As previously reported, the Belarusian Currency and Stock Exchange (BCSE) was designated the country’s national forex center in accordance with a joint resolution of the government and the National Bank of Belarus (NBB) adopted on March 4. The new status empowers the BCSE to regulate transactions with non-deliverable off-market financial instruments conducted by forex companies, banks, non-banking financial institutions. The joint resolution also lays down the rules and regulations of the BCSE as the national forex center. (Prime-TASS/Business World Magazine)